#bitcoin

JCapital Research analysts have issued a warning about the potential for a significant drop in Hut 8 Mining Corp (HUT) shares, citing possible involvement in fraudulent schemes like Pump & Dump. This alert is primarily based on the company's recent acquisition of US Bitcoin (USBTC) and the ensuing merger.

In a low-key yet significant move, Tether, the company behind USDT stablecoin, added 8,888.88 BTC (approximately $380 million) to its reserves in the previous quarter. This acquisition increased its Bitcoin stash to a hefty 66,465 BTC, valued at $2.8 billion, adhering to its policy of monthly Bitcoin purchases since September 2022.

In El Salvador, only 12% of the population reportedly used Bitcoin for payments of goods and services in the past year, marking a 12.4% decline from the 2022 statistics. This information comes from a study conducted by the Central American University José Simeón Cañas, based on face-to-face interviews with 1,280 people.

The following image illustrates a comparison between Spot Bitcoin ETFs and such stock market titans as the SPDR S&P500 ETF Trust and Invesco QQQ Trust Series 1, based on Bloomberg's data as of January 11, 2024.

Conflux Network has introduced a significant development in the cryptocurrency sector: a second-layer blockchain for Bitcoin, designed to be compatible with the Ethereum Virtual Machine (EVM).

Brad Garlinghouse, CEO of Ripple, foresees an increase in cryptocurrency ETF approvals in 2024, especially in the wake of the SEC's recent green light for a spot Bitcoin ETF.

The NFT project Taproot Wizards, initiated through the Bitcoin Ordinals protocol, has revealed its new collection titled Quantum Cats.

Ophelia Snyder, co-founder of the cryptocurrency ETP provider 21Shares, believes that it will take several months to fully understand the impact of American Bitcoin ETFs on the market. This delay is attributed to the extensive approval processes required for these products to be available for purchase by different financial institutions, often taking up to 90 days.